Australia's Netlinkz surges on global reseller deal with SpaceX for internet

Securelink Networks

23/11/2022 01:23

** Shares of Netlinkz Ltd  NET.AX  rise as much as 31.3% to
A$0.042, their highest level since July 22
    ** Australia's secure internet service provider says it
entered a global reseller agreement with U.S.-based Space
Exploration Technologies (SpaceX)
        ** NET appointed non-exclusive global reseller of
Starlink-based low latency broadband internet to businesses,
government and NGOs
    ** Co will be initially targeting connections for remote and
rural communities and businesses in Australia and New Zealand 
    ** Stock posts its biggest intraday pct gain since Oct 11
    ** More than 28.6 mln shares change hands, vs the 30-day
average volume of 5.5 mln shares
    ** Stock has doubled in value this year as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))